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For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
EXCLUSIVELY LISTED INVESTMENT OFFERING
120 East Main Street, Streator, IL 61364Walgreens
Incredibly Low Rent-To-Sales Ratio of 2.3%Rare Opporunity To Acquire A Walgreens under $4,000,000with a long term corporately guaranteed lease.
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensO�ering Overview
STABLE INCOME Rental income guaranteed by Walgreens parent corporate (S&P BBB) investment grade Fortune 500 Company with over 8,000 locations. Soon to be 14,000+ with the Rite Aid merger.
LEASE TERM REMAINING 11.5 Years Remaining on the Firm Term
MINIMAL LANDLORD RESPONSIBILITIES Landlord is responsible for roof/exterior structure; however, a new roof was installed in 2010 with a twenty year transferable warranty.
COMMITMENT TO LOCATION Tenant showed commitment to location by recently extending their lease early , committing to the site through November 2028.
LOW PRICE POINT AND RENT FACTOR Rare opportunity to purchase a Walgreens under the $4,000,000 price point. Walgreens is paying $13.74 a square foot which is well below their national average.
PRICE PER SQUARE FOOT At full asking subject property is o�ered at $238 a square foot.
STRONG HOSPITAL BASE Less than half a mile from the subject property lies the St. Mary’s Hospital, a general medical and surgical hospital with 98 beds.
SIGNALIZED CORNER WITH DRIVE-THRU PHARMACY Rare double drive-thru pharmacy located on the signalized corner of Park Street and East Main Street.
ONLY NATIONAL PHARMACY IN TOWN No other Walgreens, CVS or Rite Aid in all of Streator, Illinois with the closest Walgreens over 16 miles away and the closest CVS over 20 miles away. Only Place in town to �ll your prescriptions in an Aging Town.
120 East Main Street Streator, IL 61364
Year Built: 1994
Lot Size: 65,776 Square Feet
Building Size: 13,000 Square Feet
Investment Highlights
Equity is pleased to exclusively o�er for sale to quali�ed investors, the opportunity to purchase a 100% fee-simple interest in the Walgreens property located at 120 East Main Street in Streator, Illinois (the “Property”). The Property can be acquired at a low price point of $226.92 PSF which is extraordinarily rare for Walgreens assets currently in the marketplace.
The Property is fully leased by Walgreen Co. (WBA), operating under a lease with 11.5 years of remaining �rm term. Walgreens recently expressed its commitment to the site by executing a nearly 9.5-year lease extension. The term runs through May 31, 2063, with the option to terminate with 12 months’ notice starting November 2028, and every �ve (5) years thereafter.
Walgreens’ lease is NN with landlord responsibility limited to the maintenance and repair of all exterior items and structural portions of the building, as well as the replacement of parking areas. The Property received a new roof in 2010 that has a transferable 20 year warranty through 2030. Base rent is $178,750 annually, or $13.75 PSF, and is �at throughout the term.
Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc., (NASDAQ: WBA), had FY2014 (ended August 31, 2015) revenue of $103.44 billion and net income of $4.22 billion. As of November 30, 2015, the company had a net worth of $30.71 billion. Currently, Walgreen Co. holds a BBB/ Stable rating by Standard and Poor’s and has a market capitalization of $85.95 billion.
OMDM
11
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensLease Overview
Tenant
Landlord Income
Credit Rating
Lease Type
Lease Term
Next Option Begins
Walgreens (NYSE: WAG)
Corportate Guarantee
Investment Grade, BBB (S&P)
Double NetLandlord responsible for roof/exterior structure
11.5 Years Remaining Before Option Renewal Periods
November 2028
Lease Overview
Asking Price
Asking CAP Rate
Monthly Income
Annual Income
$2,950,000
6.10%
$14,895
$178,745
Pricing
Building Square Footage
Land Square Footage
Rent/Square Foot
Year Built
13,000
65,776
$13.75
1994 (New Roof in 2010)
Building
Roof is under a warranty that is transferable*
(Very Low For a Drug Store)
$2,885,000
6.20%
(NN)
Roof is under warranty and is transferable and renewable
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensSubject Property Retail Corridor
Drive-thru pharmacy located on the signalized corner of Park Street and East Main.
Tenant showed commitment to location by exercising their �rst option in 2013.
No other Walgreens, CVS or Rite Aid in all of Streator, Illinois with the closest Walgreens over 16 miles away and the closest CVS over 20 miles away.
Less than half a mile from the subject property lies the St. Mary’s Hospital, a general medical and surgical hospital with 98 beds.
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensProperty Photos
Subject Property Subject Property Facing SouthCentrue Bank On The Opposite Corner of Subject Property
Drive-Thru Pharmacy Signalized Corner of Park & Main StreeSubject Property West Parking Lot Facing Hickory & North Bloomington Street
STREATOR HIGH SCHOOL SOCCER
AND SOFTBALL FIELD
E. MORRELL STREET
E. BROADWAY STREET
E. KENT STREET
N. E
VER
ETT
STRE
ET
N. W
ASS
ON
STR
EET
S. V
ERM
ILLI
ON
STR
EET
E. BRIDGE STREET (5,484 VPD)
N. B
LOO
MIN
GTO
N S
TREE
T ( 9
,000
VPD
)
N. P
ARK
STR
EET
(9,8
72 V
PD)
BNSF
RAI
LWAY
E. MAIN STREET (6,700 VPD)
E. MORRELL STREET
E. BROADWAY STREET
N. J
EFFE
RSO
N S
TREE
TE. KENT STREET
STREATOR TOWNSHIP
HIGH SCHOOL
CITY PARK
E. HICKORY STREETE. HICKORY STREET
N. E
VER
ETT
STRE
ET
N. W
ASS
ON
STR
EET
S. V
ERM
ILLI
ON
STR
EET
E. BRIDGE STREET (5,484 VPD)
N. B
LOO
MIN
GTO
N S
TREE
T ( 9
,000
VPD
)
N. P
ARK
STR
EET
(9,8
72 V
PD)
VERMILLION RIVER
BNSF
RAI
LWAY
E. MAIN STREET (6,700 VPD)
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
W. Main Street (5,400 VPD)W. Main Street (5,400 VPD)
2015 Summary Population Households Families Average Household Size Owner Occupied Housing Units Renter Occupied Housing Units Median Age Median Household Income Average Household Income 2020 Summary Population Households Families Average Household Size Owner Occupied Housing Units Renter Occupied Housing Units Median Age Median Household Income Average Household Income
1 mile8,8103,5652,201
2.462,3531,212
38.6$40,027$49,339
8,6043,4852,136
2.462,2831,202
39.0$44,694$54,935
3 miles17,835
7,4384,697
2.385,2552,183
41.8$41,011$52,230
17,4217,2834,566
2.375,1022,181
42.2$45,782$57,818
N. M
ark S
treet (
9,600 V
PD)
N. Bloom
ington S
treeT (
9,000 V
PD)
N. M
ark S
treet (
9,600 V
PD)
N. Bloom
ington S
treeT (
9,000 V
PD)
OSF Center for Health
Streator High SchoolSoccer & Softball Field
Streator High School
StreatorPublic Library
5 miles418,875
7,8494,988
2.395,5822,267
42.2$41,613$52,839
18,4657,6984,858
2.385,4332,264
42.6$46,557$58,517
WALGREENS120 E. MAIN STREET | STREATOR, IL 61364
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensDemographic Overview
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensSite Plan
N P
ark
St (9
,872
VPD
)
East Hickory St (8,770 VPD)
W Main St (6,903 VPD)
N B
loom
ingt
on S
t (9,
000
VPD
)
N
Tenant
Landlord Income
Credit Rating
Lease Type
Lease Term
Next Option Begins
Walgreens (NYSE: WAG)
Corportate Guarantee
Investment Grade, BBB (S&P)
Double NetLandlord responsible for roof/exterior structure
11.5 Years Remaining on the Firm Term before the option renewal periods
November 2028
Building Square Footage
Land Square Footage
Rent/Square Foot
Year Built
13,000
65,776
$13.75
1994
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensInvestment Property Recap
Lease Overview
Asking Price
$2,950,000
Asking CAP Rate:
6.10%
Monthly Income:
$14,895
Annual Income:
$178,745
120 East Main Street, Streator, IL 61364
2,885,000
2
Tenant History Walgreens is the largest drug retailing chain in the United States and has grown primarily through organic growth versus how its largest competitor, CVS, has grown through chain acquisitions. Walgreens built out its national platform through its corporate real estate department heavily during the 90’s continuing through around 2008. By 2007, Walgreen had opened its 6,000th store and by 2009 they became the only national pharmacy to operate in 50 states including Puerto Rico. In 2012, Walgreens made a bold move by purchasing a 45% interest in Alliance Boots and subsequently in 2014 exercised its option to purchase the remaining 55% of the Switzerland based Alliance Boots to merge and create a new holding company named Walgreens Boots Alliance. After the initial acquisition in 2012, Walgreens credit rating was lowered from A down to BBB due to debt it incurred during the purchase; however, Walgreens remains investment grade and property values have not been adversely a�ected by the lower credit rating. Walgreens stock price has actually more than doubled since its acquisition of Alliance Boots.
Notable AcquisitionsIn 2010, Walgreens announced its largest acquisition ever of Duane Reade for $1.075 billion and established an irreplaceable footprint in the New York metropolitan area. In 2011, Walgreens made a move to purchase Drugstore.com to establish an online presence.
In 2012, Walgreens purchased a mid-south drugstore chain operating under USA Drug, Super D Drug, Mays Drug, Med-X and Drug Warehouse banners which had 144 locations collectively throughout Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee.
Walgreens most recent acquisition was in September 2013 for Kerr Drug’s who operated 76 drugstores throughout North Carolina.
*Walgreens company information received from Walgreens investor relations.
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensWalgreens Company Summary
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensWalgreens Locations by State
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensWalgreens Locations by State
Alabama 115 Idaho 40 Mississippi 78 Oklahoma 117 West Virginia 17
Alaska 8 Illinois 610 Missouri 219 Oregon 77 Wisconsin 228
Arizona 250 Indiana 201 Montana 14 Pennsylvania 131 Wyoming 11
Arkansas 83 Iowa 70 Nebraska 60 Rhode Island 26 Puerto Rico 120
California 646 Kansas 70 Nevada 84 South Carolina 110 US Virgin Islands 1
Colorado 160 Kentucky 98 New Hampshire 32 South Dakota 14 Connecticut 95
Louisiana 154 New Jersey 191 Tennessee 254 Delaware 65 Maine 15
New Mexico 69 Texas 712 Washington DC 6 Maryland 89 New York 486
Utah 48 Florida 861 Massachusetts 168 North Carolina 263 Vermont 3
Georgia 204 Michigan 232 North Dakota 1 Virginia 141 Hawaii 19
Minnesota 154 Ohio 250 Washington 139
For more information contact | Ted Dowding | Sr. Vice President | 858.999.7431 | tdowding@equity.net
120 East Main Street, Streator, IL 61364WalgreensLocation Overview
Streator is a city in LaSalle and Livingston counties in north central Illinois. Situated on the Vermillion River, the city is 80 miles southwest of Chicago, positioned between Interstate 39, Interstate 55 and Interstate 80. As of the 2010 census, the population was 13,710.
Streator o�ers residents many enjoyable aspects of rural life: afairly compact, walkable downtown; solid schools; quaint parks;a�ordable housing; and a tradition of making quality products,particularly, glass bottles. High-grade silica, the main ingredientin glass, was in abundance in the Streator region and at onetime, the city held the title of “Glass Manufacturing Capital of theWorld”. Glass manufacturing retains a strong presence in the citytoday, however, agriculture and related agri-business, along withthe service sector, are now the primary contributors to Streator’seconomy.
In 2007, Streator and the North Central Illinois Council ofGovernments �nalized the Streator Comprehensive Plan, layingthe foundation for civic, transportation, housing, commercialand recreational initiatives in the city through 2027. Numerousprojects proposed are currently underway as o�cials look toguide development within Streator and create a thriving andsustainable future.
Location
Streator
Employment Pro�le
Vactor Manufacturing 590
Streator Results 480
DSI 390
Streator Elementary School District 296
U.S. Foods 240
EMPLOYER # OF EMPLOYEES
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